Section Rev 306.05 - Excess Credits(a) Credits provided by RSA 400-A shall: (1) Be used to offset the current year business profits tax liability;(2) Not be refundable; and(3) Not be carried forward or backward to another taxable period.(b) Credits provided by RSA 77-E shall be: (1) Used to offset the current year business profits tax liability;(2) Carried forward to the subsequent 5 taxable periods when the credits are accumulated during tax periods ending before December 31, 2014 and exceed the current year business profits tax liability; and(3) Carried forward to the subsequent 10 taxable periods when the credits are accumulated during tax periods ending on or after December 31, 2014 and exceed the current year business profits tax liability.N.H. Code Admin. R. Rev 306.05
#4192, eff 12-23-86; ss by #5490, eff 10-19-92; ss by #5910, eff 10-14-94; ss by #6853, eff 9-23-98; ss by #8709, eff 8-25-06 (formerly Rev 306.04 )
Amended byVolume XXXV Number 06, Filed February 12, 2015 , Proposed by #10758, Effective 1/16/2015, Expires1/16/2025.